Mark Zuckerberg in a post on Facebook defended his plans to transfer 99 per cent of his family’s Facebook stock to a limited liability company that would pursue various community projects.
The CEO and controlling shareholder of Facebook, said that he and his wife Priscilla Chan, were channeling their wealth through the company instead of a more traditional foundation to give themselves maximum flexibility "to pursue our mission by funding nonprofit organizations. In the post shared last night, Zuckerberg addressed concerns that the move was a way to avoid taxes on the $45 billion block of stock.











